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11/02/12, 00:55:05 EST
Today's News
Supervisory board of Polish airline LOT approves initial public offeringiht.com The supervisory board of Poland's national carrier, LOT Polish Airlines SA, on Tuesday approved managers' plans for an initial public offering next year.The management board plans to sell shares in LOT on the Warsaw Stock Exchange in the middle of 2008, LOT said in a statement. The supervisory board gave the go-ahead for the company to start preparing for the float. Poland's state treasury currently holds a 67.97 percent stake in LOT. It plans to keep at least a 51 percent stake after the listing. The other major shareholder is the receiver of SAirLines B.V., which has a 25.1 percent stake. The airline's employees hold the remaining shares. The decision to go ahead with preparations for the initial public offering still needs approval from a shareholders' meeting. LOT did not say when that meeting would take place. 
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published Nov 06, 2007
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